Stimulus measures to boost virus-hit economy

Stimulus measures to boost virus-hit economy

The government will introduce more stimulus measures to revive the economy hit by Covid-19 and restore investor confidence, Deputy Prime Minister Supattanapong Punmeechaow said on Wednesday.

He said the additional measures are aimed at boosting domestic tourism and consumption as well as creating an estimated one million jobs for new graduates and unemployed workers, Mr Supattanapong said after the first meeting of the newly-formed Centre for Economic Situation Administration (Cesa).

He said the government will allocate funds from the 400-billion-baht budget set aside for economic and social rehabilitation to support job-creation projects.

The measures to support tourism and create jobs will go before the cabinet for approval on Aug 25 when the cabinet holds its meeting in Rayong, while details of other measures will be decided later, Mr Supattanapong said.

The government also plans to increase the benefits contained in an earlier package to boost domestic tourism.

Cesa spokesman Smith Banomyong said the centre has proposed increasing the subsidies in the We Travel Together scheme.

The 40% hotel subsidy to a maximum of 3,000 baht per night, currently capped at five nights, would be extended to 10 nights.

The air ticket subsidy would be raised from 1,000 to 2,000 baht.

The centre wants companies to encourage their employees to take advantage of the subsidies for domestic tourism.

The proposals need cabinet approval. The We Travel Together scheme was launched in July.

Previously, the cabinet also approved a proposal of the Finance Ministry to amend the soft loan conditions for small and medium-sized enterprises (SMEs) to enable greater loan access and sustain jobs.

The amended measures aim to help SMEs and micro SMEs continue their business and retain employment.

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